Law of Taxation Notes for LLB | Rajju Bhaiya University

Law of Taxation Notes

Select a topic to read detailed notes, important case laws, previous year questions and FAQs.

1

Introduction to Taxation

Meaning, types, objectives of taxation, tax vs fee, tax vs duty, tax planning, tax avoidance and tax evasion.

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2

Basic Concepts under the Income Tax Act, 1961

Assessment year, previous year, assessee, income, gross total income, agricultural income, chargeability and residential status.

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3

Heads of Income

Salary, house property, business or profession, capital gains and income from other sources.

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4

Computation of Income

Clubbing of income, set-off and carry forward of losses, deductions and tax relief.

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5

Income Tax Authorities & Assessment Procedure

Income Tax Authorities, powers, assessment procedure, penalties, offences, prosecution, appeal and revision.

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6

Wealth Tax

Net wealth, valuation date, taxable assets, exempt assets, computation, penalties and prosecution.

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